And after that 8-K came out
In connection with a definitive asset purchase agreement for bentracimab (the “Purchase Agreement”) anticipated to be executed as soon as possible, this company would be designated as the stalking horse bidder and would (a) pay PhaseBio cash in the amount of $40 million (the “Upfront Payment”); (b) pay PhaseBio cash in the total amount of $60 million upon the achievement of certain regulatory milestones with respect to bentracimab; (c) satisfy cure amounts in connection with the assumption and assignment of designated executory contracts and leases; (d) assume any agreed-upon liabilities; and (e) provide cash consideration to be paid upon PhaseBio’s entry into and due performance under a transition services agreement. This company would also provide a $4 million deposit into escrow and, if approved as the stalking horse bidder, would be entitled to a break-up fee of $2 million and reimbursement of expenses of up to $750,000, to be paid from the proceeds of a sale to an alternative purchaser.
Bullish
Disclaimer:
I call them the way I see them, if you disagree then the truth is hidden somewhere, and the truth will never be hidden for very long.